Commentary: Chilly autumn for a bull market. Bundle up!

Investment recommendation: No changes this week.

The coming weeks will see whether this correction turns into a bear market. Expect volatility, choppiness and sensationalistic journalism. Don't be afraid to take profits when opportunities occur during the week (outside of the time frame of PFI).

In the short term, there are no trades to be made in our portfolios. In the intermediate-term there are some actions you should consider in reorganizing your portfolio and reallocating your investments as events require.

Be wary. Cut costs and break free of inflexible mutual funds

Financial markets are changing: The credit crisis is widespread and many financial institutions are vulnerable (but who knows which ones). New home construction has been disrupted as many buyers can no longer qualify for loans. The world looked to American experts on these mortgage-backed securities and didn't
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